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Twitter was thinking: “a free video sharing app is crazy expensive.. we’re burning all our capital on an app that will be near impossible to profit from.” TikT
by abc-xyz 6y ago
Twitter was thinking: “a free video sharing app is crazy expensive.. we’re burning all our capital on an app that will be near impossible to profit from.”
TikTok is as far as I can tell not profitable either, and they’ve been burning hundreds of millions on ads as well. I’m guessing the CCP will gladly spend a few billions to have a social media platform that’s used all over the world.
- kantspel 6y agoIs the CCP funding ByteDance? Anyway a quick google suggests they made a tidy 3 billion profit (ByteDance as a whole) https://www.cnbc.com/2020/05/27/tiktok-bytedance-profit.html https://www.cnbc.com/2020/05/27/tiktok-bytedance-profit.html
- abc-xyz 6y agoKey point is ByteDance as a whole (I haven’t been able to find anything to indicate that TikTok itself is profitable), which happens to be a privately held company. ByteDance’s CEO have also gone on record saying they had a “weak” implementation of Xi Jinping Thought, and promised that ByteDance would “further deepen cooperation” with the Chinese Communist Party to better promote its policies.